New zinc mining combine proposal for top Australian producers

From Mineweb.com: Australian zinc miner CBH Resources Ltd (CBH.AX) made another offer to buy rival Perilya Ltd (PEM.AX) on Thursday, worth as much as A$60 million ($47 million), seeking to link up their nearby mines.

CBH said it would offer 2.8 of its shares for each Perilya share if Perilya completes the sale of a copper asset in Australia, or 4.2 of its shares per Perilya share if the sale does not go through. In June, CBH had offered 3.5 of its shares for each Perilya share, which Perilya rejected as inadequate, but left the door open for more talks…… Full Article: Source